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Citibank has hired John Rines as an executive vice president and head of its global markets division in New York, officials say. Rines will succeed Ernst Brutsche who retires from the bank this month after more than 25 years with the bank.

Rines will be responsible for the world-wide capital markets, trading and corporate finance products areas at Citibank and will report to Robert McCormack and Dennis Martin, executive vice presidents and co-heads of Citibank's global corporate banking bus